JPMorgan Chase & Co. Issues Pessimistic Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $177.00 to $176.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 37.09% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Citigroup raised their target price on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Needham & Company LLC lowered their target price on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Stifel Nicolaus lifted their price target on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. HC Wainwright cut their price target on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, UBS Group reduced their price objective on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.84.

Neurocrine Biosciences Stock Up 0.5%

NASDAQ:NBIX opened at $128.38 on Tuesday. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $160.18. The business’s 50-day moving average price is $138.43 and its two-hundred day moving average price is $140.34. The stock has a market cap of $12.88 billion, a P/E ratio of 27.55, a PEG ratio of 0.65 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. During the same quarter in the previous year, the firm posted $1.69 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities research analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director George J. Morrow sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director owned 7,068 shares of the company’s stock, valued at $1,013,339.16. This represents a 67.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. This represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 61,966 shares of company stock worth $8,625,166. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NBIX. Dodge & Cox grew its holdings in Neurocrine Biosciences by 0.6% during the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock valued at $699,693,000 after purchasing an additional 32,190 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after purchasing an additional 468,405 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 18.0% in the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after buying an additional 498,058 shares during the period. Geode Capital Management LLC increased its position in shares of Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after buying an additional 34,457 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Neurocrine Biosciences by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after buying an additional 88,522 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.